SB166
To Amend The Law Concerning Credited Service Under The State Police Retirement System.
Last Action (Jan. 26, 2023): Sine Die adjournment
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AI-Generated Summary
Senate Bill 166 is a legislative proposal in Arkansas designed to amend existing statutes regarding credited service within the State Police Retirement System. The bill serves as a vehicle for technical or policy adjustments to how service time is calculated or credited for state police officers toward their retirement benefits. As presented in the provided text, the bill outlines the intent to modify these retirement laws but does not include the specific substantive amendments or detailed changes to the calculation methodology within the provided excerpt. The legislation is part of the regular session of the 94th General Assembly.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill would be current and former Arkansas State Police officers who participate in the State Police Retirement System, as changes to credited service laws generally impact the calculation and accumulation of retirement benefits.
Who Might Suffer?
The primary group potentially negatively impacted would be the State of Arkansas and the State Police Retirement System fund, as modifications to credited service rules often increase the financial liabilities or funding requirements of the pension system.
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